Year after year, employers are faced with rising healthcare costs that for many, feel out of their control. But as benefits budgets become tighter, it’s past time for employers to enact what little agency they have and try to get to the bottom of what’s driving their healthcare spend.
According to the International Foundation of Employee Benefit Plans, U.S. employers expect to see healthcare costs increase by 7% this year, marking the second year in a row employers predicted a leap beyond the average 4-5% annual increases. Amid economic and political uncertainty, many employers are hesitant to throw money at a problem that is destined to only grow worse — and for many companies, it’s becoming harder to avoid passing on those increased costs to employees.
